Launch of the Strategic Plan for the Ministry of Finance – 2012 to 2030

On the 4th of June, the Minister of Finance officially launched the Ministry of Finance Strategic Plan 2012 to 2030

The Plan identifies:

The essential support required to the Government of Timor-Leste’s National Strategic Development Plan (SDP) over the next 20 years.

The operational steps that the Ministry intends to undertake to ensure that in 5 years time, we, at the Ministry of Finance, are delivering the core functions and services that are required by the SDP.

Our Vision

‘We aim to reach the highest standards for the management of public finances in the pursuit of transparent and accountable government;

“We will measure ourselves against international benchmarks and will have self-assessments independently verified against internationally accepted performance standards; and

“Our target is that by the end of the Strategic Plan we will:

i) Consistently demonstrate improvements in performance over time;

ii) Reach our primary target to be rated very highly according to a wide range of performance standards; and

iii) Be ranked within the top 20% of low and middle-income and developing countries, where country comparisons are possible.”

Our Goals

Attain high quality and responsive public financial management services;

Be proactive in the identification of issues, challenges, risks and opportunities and advising on beneficial changes;

Be able to recruit and retain staff from among the top graduates in economics, finance, and other relevant disciplines;

Establish adequate systems as well as effective and efficient processes; and

Adopt appropriate organizational structures and working conditions.

Where to from here?

The Ministry of Finance is now moving into a development phase that will provide essential support to the ambitious plans outlined in the Government’s National Strategic Development Plan.

With our Strategic Plan, we are adopting an aid effectiveness paradigm which will involveincreased use of country systems and direct budget support arrangements.

With an increased focus on results provided by our Strategic Plan we will be able to:

Strengthen ministry operations and focus on outcomes;

Help focus on risk identification, mitigation and management; and

Focus on the results of reform and process improvement and actions needed.

Copies of the Ministry Strategic Plan in Tetum, Portuguese and English are available on the MoF website, www.mof.gov.tl, for your easy access and reading.